https://www.polity.org.za
Deepening Democracy through Access to Information
Home / Statements RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Embed Video

DTI: Statement by Dr Rob Davies, Minister of Trade and Industry, launches a R100m gold loan scheme to support jewellery manufacturers (30/09/2014)

DTI: Statement by Dr Rob Davies, Minister of Trade and Industry, launches a R100m gold loan scheme to support jewellery manufacturers (30/09/2014)

30th September 2014

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

The Minister of Trade and Industry, Dr Rob Davies launched a R100 million Gold Loan Scheme to assist emerging and established gold jewellery manufacturers with their working capital loans and needs in Sandton today.

The working capital loans under the scheme are provided at a fixed interest rate of 3% per annum.

Addressing stakeholders at the launch, Minister Davies said the scheme was originally identified in the Industrial Policy Action Plan to provide a facility production for gold manufacturers to access favourable loans and terms used in the jewellery production.

Davies said the intervention of R100 million will allow South African jewellers to grow, and be able to supply local retail sector and the export markets.

“The latest figures indicate that there are about 1000 jewellery manufacturers left in the country and that production is down to 3500 kilograms per annum from 7500 kilograms in 2004,” said Davies.

Davies also said the jewellery sector  experienced imports  exceeding R1 billion in 2013 while exports were sitting at R467 million in the same year. This is a contrast from imports of R280 million and exports of R466 million recorded in 2004. The Gold Loan Scheme will assist local manufacturers recapture a big local market which is currently served by imported products as well as increasing exports to destinations such as the United States of America where our jewellery can enter duty-free under AGOA and other markets. 

“The new scheme is one of the many programmes that are used as interventions to support and grow the jewellery sector.  the dti through numerous schemes has provided support to more than 60 emerging and established jewellery manufacturers in a number of global exhibitions and will continue to provide such support,” added Davies.

The Divisional Executive for Corporate Strategy at the Industrial Development Corporation (IDC), Mr Shakeel Meer said manufacturing challenges need a holistic approach and programmes to address them.

“Working together with the manufacturing sector and identifying challenges that they have to deal with on a daily basis provided valuable input in the development of the Gold Loan Scheme,” said Meer.

Meer urged entrepreneurs to make use of the scheme and move the sector forward.

Application for the Gold Loan Scheme funding can be done online or submitted to the IDC offices.

Issued by the DTI

Advertisement
To watch Creamer Media's latest video reports, click here
 
Advertisement

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

 

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now